DoubleBeam, the company that powers mobile commerce at the POS, announced this week that it has acquired point of sale commerce solutions company, GoPago.

DoubleBeam’s solution can save merchants up to 75% on interchange fees by circumventing credit cards. Its acquisition of San Francisco-based GoPago will deliver a turnkey mobile commerce solution for merchants.

Shortly after DoubleBeam’s acquisition announcement, TechCrunch reported that Amazon purchased the technology and engineering team from GoPago, which means that DoubleBeam has acquired the POS business and merchant relationships side of the company.

Then, DoubleBeam demonstrated how it can save merchants on interchange fees:

“Our SDK for iOS and Android is an ingredient that runs inside other mCommerce applications. It links users’ bank accounts just by taking a picture of a blank check, then can store that information to process low-cost eChecks as a method of payment, saving merchants up to 80% off the cost of credit card interchange fees. It is being leveraged in pure mCommerce applications as a method to reload stored value accounts, and in brick and mortar retail apps where it also improves visibility into customer behavior for improved marketing ROI.”

Product Launch: January 2013

Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, & licensed

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